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研報掘金丨浙商證券:維持中國銀行“買入”評級,目標價6.03元
格隆匯 03-27 14:47

浙商證券研報指出,中國銀行(601988.SH)2024年營收同比增長1.2%,增速環比小幅放緩,其中息差拖累改善,但其他非息增速下行。歸母淨利潤同比增長2.6%,增速環比回升2.0pc,得益於成本管控、所得税貢獻加大。展望未來,受息差下行、債市波動影響,預計2025 年中行營收存在負增壓力。節奏上,預計Q1 壓力較大,後續伴隨存款降息利好逐步兑現,息差降幅有望收窄。另外,中行境外業務表現靚麗,對集團業績表現貢獻加大。維持“買入”評級,目標價6.03元/股。

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